An insurance provider should know better – Never throw water on to a stove top fire.

An insurance provider should know better – Never throw water on to a stove top fire.

Over the years, I have seen a number of ads where an insurer has got it wrong. Most common is when they play out a loss scenario and when I see it, I immediately know their policy has an exclusion for the event. This latest one though takes the cake for, in my opinion, getting it horribly wrong. The ad shows a woman trying to […]

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Emergency Services Levy – the added cost to insurance

Emergency Services Levy – the added cost to insurance

A few weeks ago when I was watching the disturbing photographs of the bush fires in Queensland and New South Wales they showed footage of the Premier of New South Wales meeting with volunteer fire fighters. I wanted to post something at the time, but did not feel it appropriate when people’s lives and homes were at risk, but the thought crossed my mind. How […]

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Under Declaring – You are now the insurer!

Under Declaring – You are now the insurer!

Yesterday I had one of those calls where you can feel the frustration and stress in the broker, where a long standing client is under attack by another broker who is simply selling on price and stripping away the years of hard work that the holding broker has put into the client. In this case, the attacking broker is advising the Insured to only declare […]

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Beware harsh exclusions that turn the policy into junk insurance

Beware harsh exclusions that turn the policy into junk insurance

Over the past few years more and more claims have been brought to my attention where the client cannot believe that their claim has been denied. The cases that I refer to are ones where the claim has been denied for faulty workmanship, faulty design or faulty products/materials and there is no write back provision for subsequent damage to the property from a peril not […]

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When to appoint a claims preparer? The earlier the better

When to appoint a claims preparer? The earlier the better

After handling claims as a claims preparer now for over 20 years full time one bit of advice above all others stands out. That is that the earlier a competent expert is appointed to assist the Insured mitigate their loss and quantify and present their claim, the better. So often, we are only engaged many months after the event, often when the Indemnity Period has […]

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Claims Comparison – Have your say!

Claims Comparison – Have your say!

It is that time of year again where we seek your feedback on the service of Claims Departments across the various insurers and underwriting agencies in the Australian Market. Having just racked up my 48th year in claims, it still comes through loud and clear that at the time of a claim, no one remembers the price. Everyone wants the Rolls Royce cover and service. […]

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Are all the hot works exclusions fair?

Are all the hot works exclusions fair?

I had a call today from a man who was building his dream home, a two storey building that was near completion. He arranged insurance on property under an annual contract works policy as he was a residential builder by profession. As part of the construction, he engaged a specialist welder to carry out some welding works. The exact circumstances are unclear but the welder […]

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Have we learned anything in claims from the Royal Commission?

Have we learned anything in claims from the Royal Commission?

The Royal Commission really brought out a few reoccurring themes. One was all about culture, a second about failure to act in good faith and third considering the customer experience. Linked to this are two issues that keeps popping up, and I have written on both before. The first is certainty of contract and the second is treating the insured fairly. Earlier this week I […]

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More on engineers’ fees

More on engineers’ fees

Earlier this week I posted an article explaining the coverage afforded by the additional benefit found in most quality property insurance policies, both home and commercial, for architects, engineers, clerk’s of works etc. This morning I received this note from one of the LMI team in New Zealand. I have read your article on professional fees with interest as I had a similar argument with […]

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Sharing the knowledge – 2018 Vero Commercial Fire Data Base

Sharing the knowledge – 2018 Vero Commercial Fire Data Base

One of the basic philosophies of LMI Group is to share the knowledge we gain from the many claims we are involved in for the benefit of the insurance industry, business and the wider communities. Of course, there are others within the insurance industry that share this approach and we praise them for their efforts. Adam Matteson from Vero shared with me the Commercial Fire […]

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